Van Eck Global
on Monday started offering Y shares in all four mutual funds it offers.
, director of marketing
for Van Eck's mutual funds, told The MFWire
that the firm has been thinking about adding the share class since last year.
"We've been getting a lot of fededback from larger broker-dealers looking for a lower-priced
share class besides load-waived A shares," Capuano said.
The timing of the Y share rollout is in conjuction with the release of Van Eck's May 2010 prospectus.
"We're in the advanced stages of finalizing selling group agreements with half a dozen of the
large b-ds," Capuano added.
Van Eck's four mutual funds -- Van Eck Global Hard Assets, International Investors Gold Fund, Emerging Markets, and Multi-Manager Alternatives --have total AUM of about $4.3 billion.
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